Prices up, prices down

Changes in duties on different products in the proposed national budget for 2021-22 fiscal year will result in increase or decrease in their prices. Finance Minister AHM Mustafa Kamal placed the budget with an outlay of Tk 6,03,681 crore in parliament on Thursday.

Price Down

Puffed rice: As the budget proposed VAT exemption at the production level, prices of packed puffed rice may be decreased.

Fresh fruit: Fresh fruit prices might go down as VAT is waived at the trade level.

Agricultural machinery: Prices of agricultural machinery might decrease as VAT is waived at production and business level for yoder (weeding machine) and winnower. Besides, advanced import duty exempted for thresher machine, power ripper, power tiller, operator sider, combined harvester, rotary tiller, weeding machine and winnower.

Automobiles: Prices of some automobile would go down as import duty to import microbus (based on CC) is decreased, supplementary duty for hybrid car is decreased, and customs duty for four-stroke engine moped in CKD (complete knockdown) is decreased, and customs duty on dumper/tipper in CKD is decreased.

Kitchen appliance: Prices of blender, juicer, mixer, grinder, electric kettle, rice cooker and pressure cooker would decrease as VAT is exempted at local level production.

Home appliance: Prices of some home appliance would decrease as VAT is exempted at the production level for washing machine, microwave oven and electric oven.  

Computer and IT accessories: Prices of locally produced computer, laptop, notebook, notepad, tab, mouse, motherboard, power bank, router, network switch, network device/hub, speaker, sound system, data cable and headphones may be decreased.

Personal hygiene products:  Prices of personal hygiene products are likely to decrease as VAT is exempted in local production of sanitary napkin. Besides, there will be a VAT exemption facility for the import of raw materials of diaper and sanitary napkin. The facility will also be extended for two more years.

Industrial paper: Proposed budget reduced ten per cent VAT in paper used in spinning mills.

Medical equipment: Custom duty is decreased for occluder, blood tubing set for hemodialysis.

Custom duty is decreased for coral shells of Mollusca, Crustaceans, Unworked, Cane molasses, Other natural steatite, mulch film, and Sprinkler system and equipment.

Price Up

Wine, beer: Prices of imported alcoholic beverage would go up as the proposed budget imposed advance income tax on import of wine and beer.

Cigarette: Price has been increased for premium quality cigarette, though the supplementary VAT is not increased for the current financial year.  

Tiles and Sanitaryware: Prices for ceramic tiles and sanitaryware would increase as 15 par cent VAT is imposed in the proposed budget on neat commission of dealers and suppliers.

Ride at theme parks: Rides at theme parks would go costlier as 20 per cent supplementary tax is imposed in all types of rides in any amusement park.   

Others: prices of imported mobile phone, carrot, mushroom, green chili, tomato, orange, capsicum, salt, imported processed meat, sweets-based confectionary, rice bran oil, all soap (organic surface-active products and preparations), mineral oil, industrial salt, heavy normal paraffin in drum, heavy normal paraffin, liquid paraffin in drum, liquid paraffin, disodium sulphate, sodium sulphate, safety glass incorporation in vehicles, aircraft, spacecraft or vessels, laminated safety glass of size and shape suitable for incorporation in vehicles, aircraft, spacecraft or vessels, bars and rods (not further worked than cold), angles, shapes and sections, crown corks, lug caps, combination seal for vials, rice huller and wheat crusher, static converters, motor exceeding 750 W, plated or coated with other base metals, coach screws, others wood screws, screw hooks and screw rings, other screw, nuts, crown corks, coated rods and cored wire of base metal for soldering, brazing or welding by flame, recycled lubricating oil, carnival or other entertainment articles would also increase for changes in duty.